Lease and Database Management Services

Devencore's Lease and Database Management Services are designed to assist public, private and crown corporations in the centralization, validation and administration of their real estate portfolios. Depending on your needs, we can provide a range of products and services, including:

Database Management: DevReal Database

Lease Administration Services

Online Reporting Tools

Database management: DevReal database

Devencore's team designs and programs the DevRealTM Database, a flexible and robust management information system, which allows organizations to centralize its real estate portfolio data. Each client's database is customized to meet specific objectives, and can be designed to assist not only the real estate department, but legal, treasury, risk management and accounting department as well.

Our clients have direct access to the DevRealTM Database through the internet using a secure web-based application (intranet). Devencore's professionals can work independently, or in conjunction with your team, to gather information, complete lease review and summary abstracts, and input data into the DevReal system.

The DevRealTM Database generates information in a variety of reports to assist management with strategic real estate decisions.

Benefits:

Centralization of your real estate portfolio

Multilingual capabilities

User-friendly and easy access

Low cost

Multiple currency conversions

Monitors critical dates

No investment in costly software, development

Implementation and ongoing updates

Quick access to lease terminations and current occupancy costs

Benchmarking various locational costs

Characteristics:

System design and programming - standard or customized

Characteristics Customized requirements and reports

Information gathering and data capture

Data input

Regular maintenance

Electronic filing storage

Daily off-site back-up procedures

Secure web-based access

User logins and passwords

Lease administration services

Devencore's Lease Administration Services help our clients monitor the validity of projected costs from landlords, as well as other charges.

Our team of experts can provide the following services:

Approval for payment of landlord monthly invoices

Audit of landlord annual expenses and charges

Review of critical dates and options

Budgeting

Benchmarking

Financial statement notes regarding lease commitments

Routine updates to the DevReal Database

Data entry of executed lease documentation

Electronic filing of all legal documentation, financial and market analysis by location

Other lease administration support, as required

Online reporting tools

Devencore's DevReal information management system can generate a variety of reports, documentation, including, but not limited to:

Lease Summary (Lease abstract)

Owned Property Summary

Expiries and Critical Dates

Monthly Payment Detail

Weekly or monthly Lease Action Status Report

Lease Recap

Annual Budget

Lease Commitments - Support to annual financial statements

Property Profile, including photos, space plans, etc.

Others (Customized for specific client requirements)

IFRS 16 support (NEW)

The requirements of the new IFRS 16 accounting standard on operating leases, effective for fiscal periods beginning January 1, 2019, will have a significant effect on the real estate industry. Indeed, the impact on financial statements and the internal processes of the lessee will possibly lead to different requirements in negotiations with landlords with respect to terms and conditions and to the pricing of leasing and non-leasing components, such as services.

At Devencore, we have developed tools to calculate your lease liability and ROU asset, including amortization schedules and journal entries to reflect these values in your financial statements. Whether you have a portfolio of multiple leases or just one lease obligation, our team of specialists can assist you with these complex calculations and guide you through your reporting requirements.

Click here to obtain a free copy of our guide "IFRS 16 - Are you prepared?" that outlines the impact of the new accounting standard and what tools are available to get your business ready before it goes into effect.